PEPE and Dogecoin’s Bullish Patterns Signal Potential Major Gains Ahead

World Of Charts, an analyst on X, recently highlighted a significant development in the PEPE/USDT market. The price has broken out of a symmetrical triangle pattern on the 2-hour chart, indicating a potential bullish wave of 25-30%.

The symmetrical triangle pattern, marked by converging trendlines, suggested a period of indecision between buyers and sellers. The breakout above the upper trendline indicates a shift in momentum towards the bulls. This breakout is supported by a notable increase in trading volume, confirming the move’s validity.

The breakout from the symmetrical triangle projects a target of 0.00001677 USDT, representing a 34.09% increase from the breakout point. The projection is based on the height of the triangle, measured from the widest part to the breakout point. This bullish scenario could see the price reaching new highs if the breakout sustains. However, if the price falls back into the triangle, it could invalidate the breakout, leading to a potential retest of lower support levels around 0.00001140 USDT.

Volume plays a crucial role in confirming breakouts. Sustained high volume indicates strong buying pressure, supporting further upward movement. If the volume decreases, it could signal a lack of conviction among buyers. The current price of PEPE is $0.0000121, with a 24-hour trading volume of $1,627,144,579, representing a 1.60% price increase in the last 24 hours.

Analyst Kelvin recently noted that Dogecoin is on the verge of a golden cross on the weekly timeframe. A golden cross occurs when a shorter moving average crosses above a longer moving average, signaling a bullish trend. The last occurrence led to an 18,000% increase over six months.

Key support levels for Dogecoin are around $0.05, $0.08, and $0.10. The current price hovers at $0.1308, with resistance noted near $0.15-$0.16. Breaking above this resistance zone could signal further bullish momentum. The recent price action shows consolidation after an upward move, indicating potential for a significant breakout if momentum continues.

If Dogecoin replicates its previous performance after a golden cross, substantial gains could follow. Key resistance levels to watch include $0.15, $0.24, and higher levels around $0.80. The price of Dogecoin at press time is $0.1307, with a 24-hour trading volume of $1,093,190,005, representing a -3.23% decline in the last 24 hours and a 3.63% increase in the past seven days.